ApeCoin Community Votes On 3 Proposals To Have Its Separate BAYC NFT Marketplace

As the first token unlock approaches, ApeCoin Community members are voting on many recommendations to boost the token’s usefulness.

There are three proposals before the community, and the major one is a proposal by Magic Eden to build an ApeCoin DAO NFT marketplace. The proposal is the Solana-based platform proposal, “AIP-93: A Marketplace for Apes, by Apes, built by Magic Eden – Brand Decision,” which is open for votes between September 16 and 22, and the next Snag Solutions’ “AIP-98: A Community-First ApeCoin DAO Marketplace Proposal – Brand Decision.”

If approved, Magic Eden will build a marketplace where ApeCoin holders may sell and buy all ApeCoin DAO NFTs such as Bored Apes, Mutant Apes, Bored Kennels, and Otherdeeds. As of press time, the plan has received more than 70% of the community’s against votes.

The AIP-98 plan, on the other hand, garnered greater support. This proposal includes a 0.5% marketplace charge for all ETH listings and a 0.25% cost for APE listings. It is also bringing greater value to the community by offering a share of the costs. Unsurprisingly, this plan received 99.79% of the votes cast.

“AIP-87: NFT + IP Marketplace / Yuga Labs + Otherside Partner NFT Collections – Ecosystem Fund Allocation” is the third proposal. The plan, like the other two, asks for the creation of a marketplace, but it does not provide any information on the fees.

Currently, 205,000 APE votes (66.9%) are against the idea, while 101,000 APE (33.1%) favor it. AIP-98 has the highest chance of succeeding because the three proposals have the same voting time.

Meanwhile, the imminent ApeCoin token unlocks, which will release 25 million APEs into the circulating supply, appear to have had an impact on the price.

According to speculations, Yuga Labs is working on a new NFT collection called Mecha Apes. Protos reported this via a leaked report, indicating that the company’s objective for the collection is to reach $50 million. Yuga Labs’ cofounder Garga, on the other hand, has disputed the notion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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